Silicon Valley: San Francisco Bay Area is the Fastest-Growing Life Science Cluster
The Bay Area is one of the largest biotech hubs in the United States.
March 16, 2020
- With the unfortunate onset of a worldwide pandemic, the Bay Area may be posed to benefit economically from private and federal funding geared towards COVID-19 and other contagious disease research. Companies in the area, like Gilead and Roche, currently have products being used for the testing and treatment of the virus.
- The National Institute of Health (NIH) is part of the U.S. Department of Health and Human Services and is the largest public funder of biomedical research. The San Francisco Bay Area received the fourth largest funding amount from NIH in 2018, after Boston, New York City and Los Angeles. Stanford University, UC Berkeley and UC San Francisco were granted a combined $1.3 billion in 2018 alone.
- South San Francisco is often referred to as the “birthplace of biotech,” and from there the broader Bay Area has grown into one of the largest life science clusters in the world. There are currently more than 80,000 people working in the life sciences industry in the area. The San Francisco Bay Area’s life sciences employment has grown by over 25% since 2013, more than double national job growth in the life sciences sector.
- The unparalleled opportunities for collaboration, innovation and talent in the Bay Area supported expansion of the life sciences industry, and these factors combined with a renewed focus on combating COVID-19 and infectious diseases should continue to support growth in life sciences in the near future.
Sources: JLL Research, NIH, BLS